Internationalization | Hisicore and US company AbbVie sign an authorization agreement for Nav1.8 inhibitors; royalty fee up to $745 million

Haisco Medicine Group Co., Ltd. recently signed an exclusive licensing agreement with US company AbbVie Group Holdings Ltd., granting AbbVie exclusive rights to develop, produce, and commercialize the Nav1.8 project worldwide, except in the Chinese mainland, Hong Kong Special Administrative Region, and Macao Special Administrative Region.

As part of the licensing transaction fee, Hisicor will receive licensing fees for the Nav1.8 project from AbbVie (a deposit of $30 million and additional milestone payments up to $715 million) as well as royalties. AbbVie will also cover certain research and development costs related to the development of the licensed Nav1.8 inhibitor from a concept validation stage to clinical development under the collaboration.

According to the agreement terms, Hisicor will grant AbbVie the exclusive rights to develop, produce, and commercialize HSK55718 and HSK51155 worldwide, except in the Chinese mainland, Hong Kong Special Administrative Region, and Macao Special Administrative Region.

HSK55718 and HSK51155 are distinct inhibitors of the selective Nav1.8 protein, which suppress abnormal nerve activity in pain nerves by selectively blocking specific sodium channels, reducing pain signal transmission, and are being developed for pain-related applications. Among them, HSK55718 is developed as an intravenous dosage form and is currently undergoing Phase I clinical trials in China; HSK51155 is developed as an oral dosage form and is currently in the pre-clinical stage.

The signing of this agreement will further advance Hisico’s goals of development and commercialization of licensed products worldwide. This move is in line with Hisico’s overall development strategy of internationalization and innovation-driven growth, and represents an important step in deepening its global presence and accelerating the transformation of innovation outcomes.

About AbbVie

The American AbbVie Group Holdings Ltd. is a research-driven global biopharmaceutical company founded in 2013, derived from Abbott, and headquartered in Illinois, USA. AbbVie is committed to discovering, developing, and commercializing innovative therapies and solutions that improve people’s lives. Currently, it has approximately 57,000 employees worldwide. Its team members work together to serve patients globally and contribute to society. AbbVie’s key areas include immunology, oncology, neuroscience, and products and services under AbbVie Aesthetics. For more information, please visit:https://www.abbvie.com

About Haisco

Hisicor is a professional pharmaceutical group listed company focused on new drug research and development, integrating production, manufacturing, and sales promotion (stock code: 002653.SZ). Since its establishment in 2000, Hisicor Pharmaceutical Group has always aimed to become the most trusted international pharmaceutical enterprise. It focuses on areas such as anesthesia and analgesia, respiration, chronic diseases, oncology, and autoimmune diseases. Through innovation-driven strategies and a globalized approach, it strives to build a world-class research and development innovation system. Currently, Hisicor Pharmaceutical Group has developed a range of diversified research and development programs with independent intellectual property rights, covering small molecule innovative drugs, biopharmaceuticals, and high-end generic drugs. Many projects are in the clinical development stage, and several innovative drugs have already been commercialized, providing diverse innovative product solutions to the world.

Statement

1. The development cycle of new drugs is long, with many stages and high risks. They are susceptible to various uncertain factors, and there is still uncertainty about whether the project will succeed in the end.

2. The milestone payment stipulated in the transaction permission agreement must meet certain conditions, and there is still uncertainty regarding the final milestone payment amount.